NAC
Nuveen California Quality
Municipal Income Fund
Portfolio of Investments November 30, 2020
(Unaudited)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
LONG-TERM INVESTMENTS – 153.2% (99.9% of Total Investments) | ||||||
MUNICIPAL BONDS – 153.2% (99.9% of Total Investments) | ||||||
Consumer Staples – 5.2% (3.4% of Total Investments) | ||||||
$1,000 | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Golden Gate Tobacco Funding Corporation, Turbo, Series 2007A, 5.000%, 6/01/47 | 12/20 at 100.00 | N/R | $1,000,280 | ||
680 | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2020A, 4.000%, 6/01/49 | 6/30 at 100.00 | BBB+ | 774,384 | ||
1,115 | California Statewide Financing Authority, Tobacco Settlement Asset-Backed Bonds, Pooled Tobacco Securitization Program, Series 2002A, 5.625%, 5/01/29 | 12/20 at 100.00 | Baa1 | 1,119,360 | ||
25,000 | California Statewide Financing Authority, Tobacco Settlement Asset-Backed Bonds, Pooled Tobacco Securitization Program, Series 2006A, 0.000%, 6/01/46 | 12/20 at 20.86 | N/R | 5,206,750 | ||
31,645 | Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Senior Convertible Series 2007A-2, 5.300%, 6/01/37 | 6/22 at 100.00 | B- | 32,815,865 | ||
39,735 | Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2018A-1, 5.250%, 6/01/47 | 6/22 at 100.00 | N/R | 41,194,069 | ||
26,755 | Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2018A-2, 5.000%, 6/01/47 | 6/22 at 100.00 | N/R | 27,614,103 | ||
19,000 | Silicon Valley Tobacco Securitization Authority, California, Tobacco Settlement Asset-Backed Bonds, Santa Clara County Tobacco Securitization Corporation, Series 2007B, 0.000%, 6/01/47 | 12/20 at 21.80 | N/R | 4,124,140 | ||
8,500 | Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed Bonds, Series 2005A-1, 5.375%, 6/01/38 | 12/20 at 100.00 | B- | 8,535,955 | ||
153,430 | Total Consumer Staples | 122,384,906 | ||||
Education and Civic Organizations – 6.4% (4.1% of Total Investments) | ||||||
4,000 | ABAG Finance Authority for Non-Profit Corporations, California, Revenue Bonds, The Jackson Laboratory, Series 2012, 5.000%, 7/01/37 | 7/22 at 100.00 | A1 | 4,266,480 | ||
7,000 | California Educational Facilities Authority, Revenue Bonds, Stanford University, Refunding Series 2014U-6, 5.000%, 5/01/45 | No Opt. Call | AAA | 11,268,600 | ||
10,065 | California Infrastructure and Economic Development Bank, Revenue Bonds, Academy of Motion Picture Arts and Sciences Obligated Group, Green Series 2020A, 5.000%, 11/01/30 | No Opt. Call | Aa2 | 13,550,610 | ||
California Municipal Finance Authority, Revenue Bonds, Creative Center of Los Altos Project Pinewood & Oakwood Schools, Series 2016B: | ||||||
800 | 4.000%, 11/01/36, 144A | 11/26 at 100.00 | N/R | 795,320 | ||
1,000 | 4.500%, 11/01/46, 144A | 11/26 at 100.00 | N/R | 1,005,640 | ||
5,385 | California Municipal Finance Authority, Charter School Revenue Bonds, Rocketship Education Multiple Projects, Series 2014A, 7.250%, 6/01/43 | 6/22 at 102.00 | N/R | 5,865,719 | ||
1,000 | California Municipal Finance Authority, Revenue Bonds, Biola University, Series 2013, 5.000%, 10/01/38 | 10/23 at 100.00 | Baa1 | 1,075,640 |
1
NAC | Nuveen California Quality Municipal Income Fund (continued) |
Portfolio of Investments November 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Education and Civic Organizations (continued) | ||||||
$380 | California School Finance Authority, Charter School Revenue Bonds, Kepler Neighborhood School, Series 2017A, 5.000%, 5/01/27, 144A | No Opt. Call | N/R | $404,901 | ||
1,615 | California School Finance Authority, School Facility Revenue Bonds, Alliance for College-Ready Public Schools Project, Series 2015A, 5.000%, 7/01/45, 144A | 7/25 at 100.00 | BBB | 1,813,193 | ||
2,150 | California School Finance Authority, School Facility Revenue Bonds, Alliance for College-Ready Public Schools Project, Series 2016A, 5.000%, 7/01/46, 144A | 7/25 at 100.00 | BBB | 2,412,838 | ||
California School Finance Authority, School Facility Revenue Bonds, Alliance for College-Ready Public Schools Project, Series 2016C: | ||||||
5,995 | 5.000%, 7/01/46 | 7/25 at 101.00 | BBB | 6,782,144 | ||
8,340 | 5.250%, 7/01/52 | 7/25 at 101.00 | BBB | 9,478,910 | ||
800 | California School Finance Authority, School Facility Revenue Bonds, Value Schools, Series 2016A, 6.000%, 7/01/51, 144A | 7/26 at 100.00 | BB+ | 912,744 | ||
4,140 | California State University, Systemwide Revenue Bonds, Series 2016A, 4.000%, 11/01/38 | 5/26 at 100.00 | Aa2 | 4,715,584 | ||
10,440 | California State University, Systemwide Revenue Bonds, Series 2019A, 5.000%, 11/01/44 | 11/29 at 100.00 | Aa2 | 13,559,576 | ||
1,740 | California Statewide Communitities Development Authority, Charter School Revenue Bonds, Rocketship 4 - Mosaic Elementary Charter School, Series 2011A, 8.500%, 12/01/41 | 12/21 at 100.00 | N/R | 1,846,471 | ||
1,000 | Dutchess County Local Development Corporation, New York, Revenue Bonds, Marist College Project, Series 2015A, 5.000%, 7/01/45 | 7/25 at 100.00 | A+ | 1,125,980 | ||
17,750 | University of California, General Revenue Bonds, Limited Project Series 2017M, 5.000%, 5/15/47 | 5/27 at 100.00 | AA- | 21,699,730 | ||
6,775 | University of California, General Revenue Bonds, Series 2017AV, 5.250%, 5/15/47 | 5/27 at 100.00 | AA | 8,438,804 | ||
8,500 | University of California, General Revenue Bonds, Series 2018AZ, 5.000%, 5/15/48 | 5/28 at 100.00 | AA | 10,590,490 | ||
University of California, General Revenue Bonds, Series 2020BE: | ||||||
11,040 | 5.000%, 5/15/43 | 5/30 at 100.00 | AA | 14,300,002 | ||
12,000 | 4.000%, 5/15/50 | 5/30 at 100.00 | AA | 14,418,960 | ||
121,915 | Total Education and Civic Organizations | 150,328,336 | ||||
Financials – 0.0% (0.0% of Total Investments) | ||||||
1,305 | Puerto Rico Urgent Interest Fund Corp (COFINA), National Taxable Trust Unit, Series 2007A Sr. Bond, 0.000%, 8/01/54 (4) | No Opt. Call | N/R | 251,573 | ||
Health Care – 14.3% (9.3% of Total Investments) | ||||||
9,345 | ABAG Finance Authority for Nonprofit Corporations, California, Revenue Bonds, Sharp HealthCare, Series 2014A, 5.000%, 8/01/43 | 8/23 at 100.00 | AA | 10,207,543 | ||
22,545 | California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Refunding Series 2016B, 5.000%, 11/15/46 | 11/26 at 100.00 | A+ | 26,788,420 | ||
California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Series 2018A: | ||||||
6,135 | 5.000%, 11/15/36 | 11/27 at 100.00 | A+ | 7,695,744 | ||
7,250 | 5.000%, 11/15/48 | 11/27 at 100.00 | A+ | 8,760,755 | ||
15,000 | California Health Facilities Financing Authority, Revenue Bonds, Cedars-Sinai Medical Center, Refunding Series 2016B, 4.000%, 8/15/39 | 8/26 at 100.00 | Aa3 | 17,076,750 |
2
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Health Care (continued) | ||||||
California Health Facilities Financing Authority, Revenue Bonds, Children's Hospital Los Angeles, Series 2017A: | ||||||
$3,900 | 5.000%, 8/15/42 | 8/27 at 100.00 | BBB+ | $4,565,028 | ||
2,400 | 5.000%, 8/15/47 | 8/27 at 100.00 | BBB+ | 2,787,768 | ||
California Health Facilities Financing Authority, Revenue Bonds, CommonSpirit Health, Series 2020A: | ||||||
9,975 | 4.000%, 4/01/44 | 4/30 at 100.00 | BBB+ | 11,412,597 | ||
6,530 | 4.000%, 4/01/45 | 4/30 at 100.00 | BBB+ | 7,449,685 | ||
6,105 | California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard Children's Hospital, Series 2014A, 5.000%, 8/15/43 | 8/24 at 100.00 | AA- | 6,802,679 | ||
1,250 | California Health Facilities Financing Authority, Revenue Bonds, Memorial Health Services, Series 2012A, 5.000%, 10/01/33 | 10/22 at 100.00 | AA- | 1,344,575 | ||
2,230 | California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, Refunding Series 2014A, 5.000%, 10/01/38 | 10/24 at 100.00 | AA- | 2,569,228 | ||
8,375 | California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, Series 2014B, 5.000%, 10/01/44 | 10/24 at 100.00 | AA- | 9,598,085 | ||
11,250 | California Health Facilities Financing Authority, Revenue Bonds, Providence Saint Joseph Health, Refunding Series 2016A, 4.000%, 10/01/47 | 10/26 at 100.00 | AA- | 12,594,375 | ||
8,760 | California Health Facilities Financing Authority, Revenue Bonds, Rady Children's Hospital - San Diego, Series 2011, 5.250%, 8/15/41 | 8/21 at 100.00 | AA | 9,014,566 | ||
685 | California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Refunding Series 2017A, 5.000%, 7/01/42 | 7/27 at 100.00 | Baa2 | 788,730 | ||
11,520 | California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A, 5.250%, 11/01/41 | 11/26 at 100.00 | BBB- | 13,240,742 | ||
1,455 | California Public Finance Authority, Revenue Bonds, Henry Mayo Newhall Hospital, Series 2017, 5.000%, 10/15/47 | 10/26 at 100.00 | BBB- | 1,624,580 | ||
5,760 | California Public Finance Authority, Revenue Bonds, Sharp HealthCare, Series 2017A, 5.000%, 8/01/47 | 2/28 at 100.00 | AA | 6,926,227 | ||
2,000 | California Statewide Communities Development Authority, California, Redlands Community Hospital, Revenue Bonds, Series 2016, 5.000%, 10/01/46 | 10/26 at 100.00 | A- | 2,268,020 | ||
California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2014A: | ||||||
1,000 | 5.250%, 12/01/34 | 12/24 at 100.00 | BB | 1,106,120 | ||
1,200 | 5.250%, 12/01/44 | 12/24 at 100.00 | BB | 1,304,640 | ||
2,375 | 5.500%, 12/01/54 | 12/24 at 100.00 | BB | 2,597,656 | ||
California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A: | ||||||
9,385 | 5.000%, 12/01/46, 144A | 6/26 at 100.00 | BB | 10,296,753 | ||
33,895 | 5.250%, 12/01/56, 144A | 6/26 at 100.00 | BB | 37,781,062 | ||
16,445 | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2018A, 5.500%, 12/01/58, 144A | 6/28 at 100.00 | BB | 18,943,982 |
3
NAC | Nuveen California Quality Municipal Income Fund (continued) |
Portfolio of Investments November 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Health Care (continued) | ||||||
California Statewide Communities Development Authority, Revenue Bonds, Adventist Health System/West, Series 2015A: | ||||||
$2,345 | 5.000%, 3/01/35 | 3/26 at 100.00 | A+ | $2,787,783 | ||
3,000 | 5.000%, 3/01/45 | 3/26 at 100.00 | A+ | 3,489,930 | ||
5,000 | California Statewide Communities Development Authority, Revenue Bonds, Adventist Health System/West, Series 2018A, 5.000%, 3/01/48 | 3/28 at 100.00 | A+ | 6,016,000 | ||
2,670 | California Statewide Communities Development Authority, Revenue Bonds, Huntington Memorial Hospital, Refunding Series 2014B, 5.000%, 7/01/44 | 7/24 at 100.00 | A- | 3,001,881 | ||
25,290 | California Statewide Communities Development Authority, Revenue Bonds, Kaiser Permanente, Series 2012A, 5.000%, 4/01/42 | 4/22 at 100.00 | AA- | 26,640,233 | ||
California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A: | ||||||
5,329 | 5.750%, 7/01/24 (5) | 12/20 at 100.00 | N/R | 4,902,391 | ||
5,813 | 5.750%, 7/01/30 (5) | 12/20 at 100.00 | N/R | 5,348,283 | ||
4,069 | 5.750%, 7/01/35 (5) | 12/20 at 100.00 | N/R | 3,744,041 | ||
5,487 | 5.500%, 7/01/39 (5) | 12/20 at 100.00 | N/R | 5,047,791 | ||
780 | California Statewide Community Development Authority, Revenue Bonds, Sherman Oaks Health System, Series 1998A, 5.000%, 8/01/22 – AMBAC Insured | No Opt. Call | AA- | 803,439 | ||
6,200 | Madera County, California, Certificates of Participation, Valley Children's Hospital Project, Series 1995, 5.750%, 3/15/28 – NPFG Insured | 12/20 at 100.00 | A1 | 6,223,126 | ||
12,910 | Palomar Pomerado Health System, California, Revenue Bonds, Refunding Series 2016, 5.000%, 11/01/39 | 11/26 at 100.00 | BBB | 14,753,161 | ||
17,400 | San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series 2011, 7.500%, 12/01/41 | 12/21 at 100.00 | BB | 18,422,424 | ||
303,063 | Total Health Care | 336,726,793 | ||||
Housing/Multifamily – 3.0% (2.0% of Total Investments) | ||||||
5,575 | California Community Housing Agency, California, Essential Housing Revenue Bonds, Serenity at Larkspur Apartments, Series 2020A, 5.000%, 2/01/50, 144A | 2/30 at 100.00 | N/R | 6,311,067 | ||
1,385 | California Community Housing Agency, California, Essential Housing Revenue Bonds, Verdant at Green Valley Apartments, Series 2019A, 5.000%, 8/01/49, 144A | 8/29 at 100.00 | N/R | 1,537,959 | ||
7,575 | California Community Housing Agency, Workforce Housing Revenue Bonds, Annadel Apartments, Series 2019A, 5.000%, 4/01/49, 144A | 4/29 at 100.00 | N/R | 8,495,968 | ||
3,497 | California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Series 2019-1, 4.250%, 1/15/35 | No Opt. Call | BBB+ | 4,010,557 | ||
23,584 | California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Series 2019-2, 4.000%, 3/20/33 | No Opt. Call | BBB+ | 26,308,953 | ||
California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Affordable Housing Inc Projects, Senior Series 2014A: | ||||||
1,680 | 5.250%, 8/15/39 | 8/24 at 100.00 | BBB+ | 1,857,408 | ||
2,150 | 5.250%, 8/15/49 | 8/24 at 100.00 | BBB+ | 2,359,367 |
4
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Housing/Multifamily (continued) | ||||||
California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2012A: | ||||||
$6,540 | 5.125%, 8/15/32 | 8/22 at 100.00 | A- | $6,915,331 | ||
6,010 | 5.500%, 8/15/47 | 8/22 at 100.00 | A- | 6,334,300 | ||
3,920 | California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2012B, 7.250%, 8/15/47 | 8/22 at 100.00 | N/R | 4,187,540 | ||
California Public Finance Authority, University Housing Revenue Bonds, National Campus Community Development - Claremont Properties LLC Claremont Colleges Project, Series 2017A: | ||||||
1,325 | 5.000%, 7/01/37, 144A | 7/27 at 100.00 | Caa2 | 1,113,000 | ||
1,000 | 5.000%, 7/01/47, 144A | 7/27 at 100.00 | Caa2 | 840,000 | ||
1,230 | Independent Cities Finance Authority, California, Mobile Home Park Revenue Bonds, Augusta Communities Mobile Home Park, Series 2012A, 5.000%, 5/15/39 | 5/22 at 100.00 | A+ | 1,279,065 | ||
65,471 | Total Housing/Multifamily | 71,550,515 | ||||
Tax Obligation/General – 33.2% (21.7% of Total Investments) | ||||||
4,125 | Alameda Unified School District, Alameda County, California, General Obligation Bonds, Series 2004A, 0.000%, 8/01/25 – AGM Insured | No Opt. Call | AA | 4,005,169 | ||
18,400 | Antelope Valley Community College District, Los Angeles County, California, General Obligation Bonds, Election 2016 Series 2017A, 5.250%, 8/01/42 | 2/27 at 100.00 | AA | 22,576,800 | ||
California State, General Obligation Bonds, Refunding Various Purpose Series 2012: | ||||||
3,230 | 5.250%, 2/01/29 | 2/22 at 100.00 | Aa2 | 3,415,144 | ||
5,245 | 5.000%, 9/01/36 | 9/22 at 100.00 | Aa2 | 5,660,089 | ||
California State, General Obligation Bonds, Refunding Various Purpose Series 2013: | ||||||
9,260 | 5.000%, 2/01/29 | 2/23 at 100.00 | Aa2 | 10,190,815 | ||
1,710 | 5.000%, 2/01/31 | 2/23 at 100.00 | Aa2 | 1,877,204 | ||
California State, General Obligation Bonds, Refunding Various Purpose Series 2016: | ||||||
3,750 | 5.000%, 9/01/30 | 9/26 at 100.00 | Aa2 | 4,650,488 | ||
4,600 | 5.000%, 8/01/33 | 8/26 at 100.00 | Aa2 | 5,640,060 | ||
8,000 | 5.000%, 9/01/37 | 9/26 at 100.00 | Aa2 | 9,749,680 | ||
9,210 | California State, General Obligation Bonds, Refunding Various Purpose Series 2019, 3.000%, 10/01/35 | 10/29 at 100.00 | Aa2 | 10,433,549 | ||
California State, General Obligation Bonds, Various Purpose Refunding Series 2015: | ||||||
6,700 | 5.000%, 8/01/32 | 2/25 at 100.00 | Aa2 | 7,906,335 | ||
11,000 | 5.000%, 8/01/34 | 8/25 at 100.00 | Aa2 | 13,176,020 | ||
5,000 | California State, General Obligation Bonds, Various Purpose Refunding Series 2016, 5.000%, 9/01/36 | 9/26 at 100.00 | Aa2 | 6,106,050 | ||
140 | California State, General Obligation Bonds, Various Purpose Series 2000, 5.625%, 5/01/22 – FGIC Insured | 12/20 at 100.00 | Aa2 | 140,620 |
5
NAC | Nuveen California Quality Municipal Income Fund (continued) |
Portfolio of Investments November 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Tax Obligation/General (continued) | ||||||
California State, General Obligation Bonds, Various Purpose Series 2011: | ||||||
$13,835 | 5.250%, 10/01/28 | 10/21 at 100.00 | Aa2 | $14,403,757 | ||
14,520 | 5.000%, 9/01/31 | 9/21 at 100.00 | Aa2 | 15,024,425 | ||
15,025 | 5.000%, 9/01/41 | 9/21 at 100.00 | Aa2 | 15,520,524 | ||
21,420 | 5.000%, 10/01/41 | 10/21 at 100.00 | Aa2 | 22,205,043 | ||
California State, General Obligation Bonds, Various Purpose Series 2013: | ||||||
9,940 | 5.000%, 4/01/37 | 4/23 at 100.00 | Aa2 | 10,960,838 | ||
9,755 | 5.000%, 2/01/43 | 2/23 at 100.00 | Aa2 | 10,668,848 | ||
15,145 | 5.000%, 4/01/43 | 4/23 at 100.00 | Aa2 | 16,666,921 | ||
7,240 | 5.000%, 11/01/43 | 11/23 at 100.00 | Aa2 | 8,142,538 | ||
California State, General Obligation Bonds, Various Purpose Series 2014: | ||||||
24,970 | 5.000%, 5/01/32 | 5/24 at 100.00 | Aa2 | 28,707,260 | ||
8,910 | 5.000%, 10/01/39 | 10/24 at 100.00 | Aa2 | 10,315,463 | ||
10,245 | 5.000%, 12/01/43 | 12/23 at 100.00 | Aa2 | 11,557,692 | ||
1,815 | 5.000%, 10/01/44 | 10/24 at 100.00 | Aa2 | 2,086,451 | ||
9,500 | California State, General Obligation Bonds, Various Purpose Series 2015, 5.000%, 3/01/45 | 3/25 at 100.00 | Aa2 | 11,052,395 | ||
3,780 | California State, General Obligation Bonds, Various Purpose Series 2017, 5.000%, 11/01/47 | 11/27 at 100.00 | Aa2 | 4,676,314 | ||
8,360 | California State, General Obligation Bonds, Various Purpose Series 2018, 5.000%, 10/01/47 | 4/26 at 100.00 | Aa2 | 9,906,098 | ||
8,000 | California State, General Obligation Bonds, Various Purpose Series 2018 Bid Group A/B, 5.000%, 10/01/48 | 10/28 at 100.00 | Aa2 | 10,111,200 | ||
5,000 | California State, General Obligation Bonds, Various Purpose Series 2019, 5.000%, 4/01/45 | 4/29 at 100.00 | Aa2 | 6,364,250 | ||
3,550 | Centinela Valley Union High School District, Los Angeles County, California, General Obligation Bonds, Series 2002A, 5.250%, 2/01/26 – NPFG Insured | No Opt. Call | A+ | 4,118,568 | ||
15,000 | Chaffey Joint Union High School District, San Bernardino County, California, General Obligation Bonds, Election 2012 Series 2019D, 4.000%, 8/01/49 | 8/28 at 100.00 | Aa1 | 17,515,650 | ||
Corona-Norco Unified School District, Riverside County, California, General Obligation Bonds, Election 2014, Series 2019C: | ||||||
7,860 | 3.000%, 8/01/44 | 8/28 at 100.00 | AA- | 8,468,285 | ||
5,585 | 4.000%, 8/01/49 | 8/28 at 100.00 | AA- | 6,499,823 | ||
7,500 | Desert Community College District, Riverside County, California, General Obligation Bonds, Refunding Series 2016, 5.000%, 8/01/37 | 2/26 at 100.00 | AA | 9,069,525 | ||
3,300 | Evergreen School District, Santa Clara County, California, General Obligation Bonds, Election of 2014, Series 2018, 5.000%, 8/01/46 | 8/28 at 100.00 | Aa2 | 4,157,175 | ||
5,150 | Hacienda La Puente Unified School District Facilities Financing Authority, California, General Obligation Revenue Bonds, Series 2007, 5.000%, 8/01/26 – AGM Insured | No Opt. Call | AA | 6,489,618 | ||
3,000 | Hacienda La Puente Unified School District, Los Angeles County, California, General Obligation Bonds, 2016 Election, Series 2017A, 4.000%, 8/01/47 | 8/27 at 100.00 | AAA | 3,458,100 | ||
5,630 | Lake Tahoe Unified School District, El Dorado County, California, General Obligation Bonds, Series 2010, 0.000%, 8/01/45 – AGM Insured (6) | No Opt. Call | AA | 6,016,162 |
6
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Tax Obligation/General (continued) | ||||||
$4,650 | Long Beach Unified School District, Los Angeles County, California, General Obligation Bonds, Election of 2016, Series 2019B, 3.000%, 8/01/41 | 8/29 at 100.00 | Aa2 | $5,082,404 | ||
13,465 | Los Angeles Unified School District, Los Angeles County, California, General Obligation Bonds, Series 2020RYQ, 4.000%, 7/01/44 | 7/30 at 100.00 | AA+ | 16,131,339 | ||
10,050 | Manhattan Beach Unified School District, Los Angeles County, California, General Obligation Bonds, Election 2016 Measure C Series 2020B, 4.000%, 9/01/45 | 9/30 at 100.00 | Aa1 | 12,253,463 | ||
4,100 | Monrovia Unified School District, Los Angeles County, California, General Obligation Bonds, Series 2001B, 0.000%, 8/01/27 – FGIC Insured | No Opt. Call | Aa3 | 3,828,088 | ||
3,100 | Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2018, Series 2019A, 4.000%, 8/01/49 | 8/29 at 100.00 | Aa1 | 3,683,017 | ||
10,765 | North Orange County Community College District, California, General Obligation Bonds, Election of 2002 Series 2003B, 0.000%, 8/01/27 – FGIC Insured | No Opt. Call | AA+ | 10,144,828 | ||
14,655 | Ontario-Montclair School District, San Bernardino County, California, General Obligation Bonds, Election of 2016, Series 2019B, 4.000%, 8/01/48 | 8/27 at 100.00 | Aa2 | 16,876,405 | ||
1,815 | Orland Joint Unified School District, Glenn and Tehama Counties, California, General Obligation Bonds, 2008 Election, Series 2012B, 0.000%, 8/01/51 (6) | 8/37 at 100.00 | AA | 1,600,649 | ||
7,495 | Palmdale School District, Los Angeles County, California, General Obligation Bonds, 2016 Election Series 2017A, 5.250%, 8/01/42 | 8/27 at 100.00 | AAA | 9,382,316 | ||
10,330 | Palomar Pomerado Health, California, General Obligation Bonds, Convertible Capital Appreciation, Election 2004 Series 2010A, 0.000%, 8/01/35 | No Opt. Call | A2 | 7,209,410 | ||
5,000 | Paramount Unified School District, Los Angeles County, California, General Obligation Bonds, Election 2006 Series 2011, 0.000%, 8/01/45 (6) | 2/33 at 100.00 | Aa3 | 6,772,300 | ||
28,000 | San Bernardino Community College District, California, General Obligation Bonds, Election of 2008 Series 2009B, 0.000%, 8/01/44 | No Opt. Call | Aa1 | 15,015,000 | ||
4,250 | San Diego Community College District, San Diego County, California, General Obligation Bonds, Refunding Series 2016, 5.000%, 8/01/41 | 8/26 at 100.00 | AAA | 5,179,390 | ||
5,690 | San Francisco Bay Area Rapid Transit District, California, General Obligation Bonds, Election of 2016, Green Series 2019B-1, 3.000%, 8/01/49 | 8/29 at 100.00 | AAA | 6,145,086 | ||
21,000 | San Marcos Unified School District, San Diego County, California, General Obligation Bonds, 2010 Election, Series 2012B, 0.000%, 8/01/51 | No Opt. Call | AA- | 9,537,780 | ||
20,220 | San Mateo County Community College District, California, General Obligation Bonds, Election 2014 Series 2018B, 5.000%, 9/01/45 | 9/28 at 100.00 | AAA | 25,706,697 | ||
1,220 | San Mateo Union High School District, San Mateo County, California, General Obligation Bonds, Election 2010 Series 2011A, 0.000%, 7/01/51 (6) | 9/41 at 100.00 | Aaa | 1,187,548 | ||
4,970 | San Rafael City High School District, Marin County, California, General Obligation Bonds, Series 2004B, 0.000%, 8/01/27 – FGIC Insured | No Opt. Call | AA+ | 4,671,303 | ||
8,700 | Santa Ana College Improvement District 1, Orange County, California, General Obligation Bonds, Rancho Santiago Community College District, Election of 2012, Series 2017B, 4.000%, 8/01/41 | 8/27 at 100.00 | AA | 10,131,846 | ||
6,725 | Santa Barbara Unified School District, Santa Barbara County, California, General Obligation Bonds, School Facilities Improvement District 1, Election of 2016, Series 2019B, 5.000%, 8/01/44 | 8/28 at 100.00 | Aa1 | 8,501,005 | ||
2,200 | Santa Maria Joint Union High School District, Santa Barbara and San Luis Obispo Counties, California, General Obligation Bonds, Series 2003B, 5.625%, 8/01/24 – AGM Insured | No Opt. Call | Aa3 | 2,510,332 |
7
NAC | Nuveen California Quality Municipal Income Fund (continued) |
Portfolio of Investments November 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Tax Obligation/General (continued) | ||||||
Sonoma County Junior College District, California, General Obligation Bonds, Election 2014 Series 2019B: | ||||||
$7,285 | 3.000%, 8/01/37 | 8/29 at 100.00 | AA | $8,073,018 | ||
4,650 | 3.000%, 8/01/41 | 8/29 at 100.00 | AA | 5,098,074 | ||
4,175 | Southwestern Community College District, San Diego County, California, General Obligation Bonds, Election of 2000, Series 2004, 0.000%, 8/01/25 – FGIC Insured | No Opt. Call | Aa2 | 4,053,716 | ||
5,530 | Stockton Unified School District, San Joaquin County, California, General Obligation Bonds, Election 2008 Series 2011D, 0.000%, 8/01/50 – AGM Insured (6) | 8/37 at 100.00 | AA | 6,935,007 | ||
26,000 | Sylvan Union School District, Stanislaus County, California, General Obligation Bonds, Election of 2006, Series 2010, 0.000%, 8/01/49 – AGM Insured (6) | No Opt. Call | AA | 29,285,360 | ||
Washington Township Health Care District, Alameda County, California, General Obligation Bonds, 2004 Election Series 2013B: | ||||||
4,740 | 5.500%, 8/01/38 | 8/24 at 100.00 | A1 | 5,373,311 | ||
4,830 | 5.500%, 8/01/40 | 8/24 at 100.00 | A1 | 5,464,131 | ||
Washington Township Health Care District, Alameda County, California, General Obligation Bonds, 2012 Election Series 2013A: | ||||||
4,355 | 5.500%, 8/01/38 | 8/24 at 100.00 | A1 | 4,936,872 | ||
3,500 | 5.500%, 8/01/40 | 8/24 at 100.00 | A1 | 3,959,515 | ||
2,015 | Wiseburn School District, Los Angeles County, California, General Obligation Bonds, Series 2012C, 5.000%, 8/01/26 | 8/22 at 100.00 | Aa2 | 2,164,473 | ||
140,160 | Yosemite Community College District, California, General Obligation Bonds, Capital Appreciation, Election 2004, Series 2010D, 0.000%, 8/01/42 (6) | No Opt. Call | Aa2 | 147,661,363 | ||
730,045 | Total Tax Obligation/General | 784,245,992 | ||||
Tax Obligation/Limited – 25.5% (16.6% of Total Investments) | ||||||
1,675 | Beaumont Financing Authority, California, Local Agency Revenue Bonds, Improvement Area 19A, Series 2015B, 5.000%, 9/01/35 | 9/25 at 100.00 | N/R | 1,902,934 | ||
1,655 | Bell Community Housing Authority, California, Lease Revenue Bonds, Series 2005, 5.000%, 10/01/36 – AMBAC Insured | 12/20 at 100.00 | N/R | 1,665,443 | ||
2,125 | Bell Community Redevelopment Agency, California, Tax Allocation Bonds, Bell Project Area, Series 2003, 5.500%, 10/01/23 – RAAI Insured | 12/20 at 100.00 | AA | 2,133,649 | ||
21,255 | California Infrastructure and Economic Development Bank, Infrastructure State Revolving Fund Revenue Bonds, Series 2016A, 5.000%, 10/01/41 | 10/26 at 100.00 | AAA | 26,009,956 | ||
California Infrastructure and Economic Development Bank, Lease Revenue Bonds, California State Teachers Retirement System Headquarters Expansion, Green Bond-Climate Bond Certified Series 2019: | ||||||
1,175 | 5.000%, 8/01/38 | 8/29 at 100.00 | AA | 1,500,181 | ||
4,000 | 5.000%, 8/01/49 | 8/29 at 100.00 | AA | 4,978,840 | ||
California State Public Works Board, Lease Revenue Bonds, Department of Corrections & Rehabilitation, Series 2013G: | ||||||
10,690 | 5.250%, 9/01/30 | 9/23 at 100.00 | Aa3 | 12,074,141 | ||
18,135 | 5.250%, 9/01/32 | 9/23 at 100.00 | Aa3 | 20,451,202 |
8
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Tax Obligation/Limited (continued) | ||||||
California State Public Works Board, Lease Revenue Bonds, Department of Corrections & Rehabilitation, Various Correctional Facilities Series 2013F: | ||||||
$8,685 | 5.250%, 9/01/31 | 9/23 at 100.00 | Aa3 | $9,804,410 | ||
1,450 | 5.250%, 9/01/33 | 9/23 at 100.00 | Aa3 | 1,634,774 | ||
10,525 | California State Public Works Board, Lease Revenue Bonds, Department of Corrections & Rehabilitation, Various Correctional Facilities Series 2014A, 5.000%, 9/01/39 | 9/24 at 100.00 | Aa3 | 12,137,114 | ||
17,395 | California State Public Works Board, Lease Revenue Bonds, Judicial Council of California, New Stockton Courthouse, Series 2014B, 5.000%, 10/01/39 | 10/24 at 100.00 | Aa3 | 20,110,359 | ||
1,000 | California State Public Works Board, Lease Revenue Bonds, Judicial Council of California, Various Projects Series 2013A, 5.000%, 3/01/30 | 3/23 at 100.00 | Aa3 | 1,101,230 | ||
1,000 | California State Public Works Board, Lease Revenue Bonds, Judicial Council of California, Yuba City Courthouse, Series 2013D, 5.000%, 6/01/32 | 6/23 at 100.00 | Aa3 | 1,109,630 | ||
2,650 | California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2012A, 5.000%, 4/01/33 | 4/22 at 100.00 | Aa3 | 2,805,979 | ||
3,770 | California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2012G, 5.000%, 11/01/37 | 11/22 at 100.00 | Aa3 | 4,080,723 | ||
9,950 | California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2013I, 5.000%, 11/01/38 | 11/23 at 100.00 | Aa3 | 11,168,775 | ||
13,520 | California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2014E, 5.000%, 9/01/39 | 9/24 at 100.00 | Aa3 | 15,590,858 | ||
1,000 | Fullerton Community Facilities District 1, California, Special Tax Bonds, Amerige Heights, Refunding Series 2012, 5.000%, 9/01/32 | 9/22 at 100.00 | A+ | 1,074,040 | ||
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Series 2015A: | ||||||
3,250 | 5.000%, 6/01/40 | 6/25 at 100.00 | Aa3 | 3,783,552 | ||
86,320 | 5.000%, 6/01/45 | 6/25 at 100.00 | Aa3 | 99,745,350 | ||
1,000 | Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2013A, 5.000%, 6/01/30 | 6/23 at 100.00 | Aa3 | 1,104,580 | ||
Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D: | ||||||
9,000 | 5.000%, 11/15/29 | 11/25 at 100.00 | BB | 10,272,690 | ||
11,000 | 5.000%, 11/15/35 | 11/25 at 100.00 | BB | 12,398,430 | ||
2,050 | Inglewood Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment Project, Refunding Series 1998A, 5.250%, 5/01/23 – AMBAC Insured | No Opt. Call | N/R | 2,213,262 | ||
Jurupa Public Financing Authority, California, Special Tax Revenue Bonds, Series 2014A: | ||||||
530 | 5.000%, 9/01/29 | 9/24 at 100.00 | A+ | 608,286 | ||
1,900 | 5.000%, 9/01/30 | 9/24 at 100.00 | A+ | 2,176,526 | ||
1,220 | 5.000%, 9/01/31 | 9/24 at 100.00 | A+ | 1,394,314 | ||
1,955 | Jurupa Public Financing Authority, California, Special Tax Revenue Bonds, Series 2015A, 5.000%, 9/01/43 | 9/25 at 100.00 | A+ | 2,244,477 | ||
810 | Lake Elsinore Public Financing Authority, California, Local Agency Revenue Bonds, Refunding Series 2015, 5.000%, 9/01/40 | 9/25 at 100.00 | N/R | 913,445 | ||
1,000 | Lathrop, California, Limited Obligation Improvement Bonds, Crossroads Assessment District, Series 2015, 5.000%, 9/02/40 | 9/25 at 100.00 | N/R | 1,129,220 |
9
NAC | Nuveen California Quality Municipal Income Fund (continued) |
Portfolio of Investments November 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Tax Obligation/Limited (continued) | ||||||
$14,930 | Los Angeles Community Redevelopment Agency, California, Lease Revenue Bonds, Vermont Manchester Social Services Project, Series 2005, 5.000%, 9/01/37 – AMBAC Insured | 12/20 at 100.00 | Aa2 | $14,978,373 | ||
Los Angeles County Metropolitan Transportation Authority, California, Measure R Sales Tax Revenue Bonds, Senior Series 2016A: | ||||||
5,125 | 5.000%, 6/01/36 | 6/26 at 100.00 | AAA | 6,274,999 | ||
5,620 | 5.000%, 6/01/37 | 6/26 at 100.00 | AAA | 6,864,099 | ||
5,210 | Los Angeles County Metropolitan Transportation Authority, California, Proposition A First Tier Senior Sales Tax Revenue Bonds, Green Series 2017A, 5.000%, 7/01/41 | 7/27 at 100.00 | AAA | 6,470,143 | ||
Los Angeles County Metropolitan Transportation Authority, California, Proposition C Sales Tax Revenue Bonds, Senior Lien Series 2017A: | ||||||
10,455 | 5.000%, 7/01/38 | 7/27 at 100.00 | AAA | 13,060,804 | ||
3,995 | 5.000%, 7/01/39 | 7/27 at 100.00 | AAA | 4,982,125 | ||
15,615 | 5.000%, 7/01/42 | 7/27 at 100.00 | AAA | 19,346,829 | ||
9,045 | Los Angeles County Public Works Financing Authority, California, Lease Revenue Bonds, Multiple Capital Facilities Project II, Series 2012, 5.000%, 8/01/42 | 8/22 at 100.00 | AA+ | 9,686,200 | ||
2,000 | Los Angeles County Public Works Financing Authority, California, Lease Revenue Bonds, Series 2019E-1, 5.000%, 12/01/49 | 12/29 at 100.00 | AA+ | 2,551,160 | ||
Lynwood Redevelopment Agency, California, Tax Allocation Revenue Bonds, Project Area A, Subordinate Lien Series 2011A: | ||||||
1,625 | 6.750%, 9/01/26 | 9/21 at 100.00 | A | 1,696,662 | ||
750 | 7.000%, 9/01/31 | 9/21 at 100.00 | A | 780,128 | ||
1,835 | Modesto, California, Speical Tax Bonds, Community Faclities District 2004-1 Village One 2, Refunding Series 2014, 5.000%, 9/01/31 | 9/24 at 100.00 | BBB+ | 2,081,991 | ||
1,000 | Norco Redevelopment Agency, California, Tax Allocation Bonds, Project Area 1, Series 2009, 7.000%, 3/01/34 | 12/20 at 100.00 | A+ | 1,004,200 | ||
19,390 | Ontario Redevelopment Financing Authority, San Bernardino County, California, Revenue Bonds, Redevelopment Project 1, Refunding Series 1995, 7.400%, 8/01/25 – NPFG Insured | No Opt. Call | Baa2 | 22,064,075 | ||
Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities District 2001-1, Senior Series 2013A: | ||||||
11,310 | 5.250%, 9/01/30 | 9/23 at 100.00 | N/R | 12,437,268 | ||
10,145 | 5.750%, 9/01/39 | 9/23 at 100.00 | N/R | 11,144,790 | ||
1,650 | Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities District 2001-1, Subordinate Lien Series 2013B, 5.875%, 9/01/39 | 9/23 at 100.00 | N/R | 1,818,085 | ||
8,160 | Pico Rivera Water Authority, California, Revenue Bonds, Series 2001A, 6.250%, 12/01/32 | 12/20 at 100.00 | N/R | 8,250,576 | ||
8,750 | Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community Development Project, Series 1999, 0.000%, 8/01/23 – AMBAC Insured | No Opt. Call | AA- | 8,596,350 | ||
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1: | ||||||
10,995 | 0.000%, 7/01/46 | 7/28 at 41.38 | N/R | 3,300,259 | ||
49,372 | 5.000%, 7/01/58 | 7/28 at 100.00 | N/R | 54,455,835 | ||
43 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2, 4.536%, 7/01/53 | 7/28 at 100.00 | N/R | 46,108 |
10
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Tax Obligation/Limited (continued) | ||||||
$3,500 | Rancho Cucamonga Redevelopment Agency Successor Agency, California, Tax Allocation Bonds, Rancho Redevelopment Project, Series 2014, 5.000%, 9/01/30 | 9/24 at 100.00 | AA+ | $4,038,720 | ||
960 | Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project Area, Series 2011B, 6.500%, 10/01/25 | 10/21 at 100.00 | A | 1,009,834 | ||
5,000 | Riverside County Transportation Commission, California, Sales Tax Revenue Bonds, Refunding Limited Tax Series 2017B, 5.000%, 6/01/39 | 12/27 at 100.00 | AA+ | 6,323,150 | ||
Riverside County, California, Special Tax Bonds, Community Facilities District 04-2 Lake Hill Crest, Series 2012: | ||||||
990 | 5.000%, 9/01/29 | 9/22 at 100.00 | N/R | 1,057,231 | ||
2,615 | 5.000%, 9/01/35 | 9/22 at 100.00 | N/R | 2,774,463 | ||
Riverside County, California, Special Tax Bonds, Community Facilities District 05-8 Scott Road, Series 2013: | ||||||
555 | 5.000%, 9/01/30 | 9/22 at 100.00 | N/R | 591,846 | ||
710 | 5.000%, 9/01/42 | 9/22 at 100.00 | N/R | 749,938 | ||
Roseville, California, Special Tax Bonds, Community Facilities District 1 Westpark, Refunding Series 2015: | ||||||
385 | 5.000%, 9/01/31 | 9/25 at 100.00 | N/R | 442,754 | ||
575 | 5.000%, 9/01/37 | 9/25 at 100.00 | N/R | 652,240 | ||
5,500 | Sacramento Area Flood Control Agency, California, Consolidated Capital Assessment District 2 Bonds, Series 2016A, 5.000%, 10/01/41 | 10/26 at 100.00 | AA | 6,716,490 | ||
Sacramento Area Flood Control Agency, California, Consolidated Capital Assessment District 2 Bonds, Series 2020: | ||||||
2,540 | 4.000%, 10/01/40 | 10/30 at 100.00 | AA | 3,075,076 | ||
8,245 | 4.000%, 10/01/43 | 10/30 at 100.00 | AA | 9,889,877 | ||
4,250 | Sacramento City Financing Authority, California, Tax Allocation Revenue Bonds, Merged Downtown Sacramento and Oak Park Projects, Series 2005A, 0.000%, 12/01/31 – FGIC Insured | No Opt. Call | A | 3,465,535 | ||
San Buenaventura Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Areas, Series 2008: | ||||||
1,000 | 7.750%, 8/01/28 | 12/20 at 100.00 | A | 1,005,540 | ||
1,325 | 8.000%, 8/01/38 | 12/20 at 100.00 | A | 1,332,513 | ||
620 | San Clemente, California, Special Tax Revenue Bonds, Community Facilities District 2006-1 Marblehead Coastal, Series 2015, 5.000%, 9/01/40 | 9/25 at 100.00 | N/R | 699,782 | ||
8,855 | San Diego County Regional Transportation Commission, California, Sales Tax Revenue Bonds, Limited Tax Series 2016A, 5.000%, 4/01/48 | 4/26 at 100.00 | AAA | 10,623,698 | ||
5,000 | San Francisco Bay Area Rapid Transit District, California, Sales Tax Revenue Bonds, Series 2019A, 3.000%, 7/01/44 | 7/27 at 100.00 | AA+ | 5,320,700 | ||
255 | San Francisco City and County Redevelopment Agency Successor Agency, California, Special Tax Bonds, Community Facilities District 6 Mission Bay South Public Improvements, Refunding Series 2013A, 5.000%, 8/01/33 | 8/22 at 100.00 | N/R | 269,359 | ||
1,935 | San Francisco City and County Redevelopment Agency Successor Agency, California, Special Tax Bonds, Community Facilities District 7, Hunters Point Shipyard Phase One Improvements, Refunding Series 2014, 5.000%, 8/01/39 | 8/24 at 100.00 | N/R | 2,067,586 |
11
NAC | Nuveen California Quality Municipal Income Fund (continued) |
Portfolio of Investments November 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Tax Obligation/Limited (continued) | ||||||
$5,000 | San Francisco City and County Redevelopment Agency Successor Agency, California, Tax Allocation Bonds, Mission Bay North Redevelopment Project, Refunding Series 2016A, 5.000%, 8/01/41 – NPFG Insured | 8/26 at 100.00 | A | $5,880,150 | ||
1,315 | Signal Hill Redevelopment Agency, California, Project 1 Tax Allocation Bonds, Series 2011, 7.000%, 10/01/26 | 4/21 at 100.00 | N/R | 1,340,340 | ||
2,500 | Stockton Public Financing Authority, California, Revenue Bonds, Arch Road East Community Facility District 99-02, Series 2018A, 5.000%, 9/01/37 | 9/25 at 103.00 | N/R | 2,816,000 | ||
Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities District 16-01, Series 2017: | ||||||
1,565 | 5.500%, 9/01/27, 144A | No Opt. Call | N/R | 1,683,893 | ||
1,455 | 5.750%, 9/01/32, 144A | 9/27 at 100.00 | N/R | 1,596,979 | ||
5,560 | 6.250%, 9/01/47, 144A | 9/27 at 100.00 | N/R | 6,026,762 | ||
1,350 | Temecula Valley Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2002-1 Improvement Area 1, Series 2012, 5.000%, 9/01/33 | 9/22 at 100.00 | N/R | 1,424,372 | ||
4,085 | Transbay Joint Powers Authority, California, Tax Allocation Bonds, Senior Green Series 2020A, 5.000%, 10/01/49 | 4/30 at 100.00 | A- | 5,078,799 | ||
1,565 | Tustin, California, Special Tax Bonds, Community Facilities District 06-1 Tustin Legacy/Columbus Villages, Refunding Series 2015A, 5.000%, 9/01/32 | 9/25 at 100.00 | A- | 1,844,963 | ||
6,870 | Vernon Redevelopment Agency, California, Tax Allocation Bonds, Industrial Redevelopment Project, Series 2005, 5.000%, 9/01/35 – NPFG Insured | 12/20 at 100.00 | Baa2 | 7,014,957 | ||
1,620 | Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Refunding Series 2012A, 5.000%, 10/01/32 – AGM Insured | 10/22 at 100.00 | AA | 1,734,259 | ||
1,280 | William S Hart School Financing Authority, California, Refunding Revenue Bonds, Series 2013, 5.000%, 9/01/34 | 9/23 at 100.00 | A | 1,409,510 | ||
537,690 | Total Tax Obligation/Limited | 601,166,745 | ||||
Transportation – 22.8% (14.9% of Total Investments) | ||||||
Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Second Subordinate Lien Series 2016B: | ||||||
6,990 | 5.000%, 10/01/34 | 10/26 at 100.00 | BBB+ | 8,208,567 | ||
5,445 | 5.000%, 10/01/36 | 10/26 at 100.00 | BBB+ | 6,364,987 | ||
9,500 | Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Subordinate Series 2019S-H, 5.000%, 4/01/49 | 4/29 at 100.00 | AA- | 11,921,550 | ||
3,500 | California Municipal Finance Authority, Revenue Bonds, Linxs APM Project, Senior Lien Series 2018A, 5.000%, 12/31/47 (AMT) | 6/28 at 100.00 | BBB- | 4,083,870 | ||
2,295 | California Municipal Finance Authority, Special Facility Revenue Bonds, United Airlines, Inc Los Angeles International Airport Project, Series 2019, 4.000%, 7/15/29 (AMT) | No Opt. Call | B+ | 2,403,485 | ||
20,725 | Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Junior Lien Series 2013C, 6.500%, 1/15/43 | 1/24 at 100.00 | BBB+ | 23,755,409 | ||
45,735 | Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Series 2013A, 5.750%, 1/15/46 | 1/24 at 100.00 | A- | 51,434,953 | ||
1,200 | Long Beach, California, Harbor Revenue Bonds, Series 2015D, 5.000%, 5/15/42 | 5/25 at 100.00 | AA | 1,387,764 | ||
870 | Long Beach, California, Harbor Revenue Bonds, Series 2017C, 5.000%, 5/15/47 | 5/27 at 100.00 | AA | 1,035,178 |
12
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Transportation (continued) | ||||||
$10,840 | Long Beach, California, Harbor Revenue Bonds, Series 2019A, 5.000%, 5/15/44 | 5/29 at 100.00 | Aa2 | $13,518,456 | ||
5,000 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Senior Lien Series 2015A, 4.750%, 5/15/40 (AMT) | 5/25 at 100.00 | Aa2 | 5,686,000 | ||
Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Senior Lien Series 2015D: | ||||||
2,600 | 5.000%, 5/15/31 (AMT) | 5/25 at 100.00 | Aa2 | 3,042,026 | ||
11,420 | 5.000%, 5/15/33 (AMT) | 5/25 at 100.00 | Aa2 | 13,285,800 | ||
3,000 | 5.000%, 5/15/36 (AMT) | 5/25 at 100.00 | Aa2 | 3,477,420 | ||
11,335 | 5.000%, 5/15/41 (AMT) | 5/25 at 100.00 | Aa2 | 13,059,167 | ||
10,000 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Senior Lien Series 2020C, 5.000%, 5/15/39 (AMT) | 5/30 at 100.00 | Aa2 | 12,795,800 | ||
1,500 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2016A, 5.000%, 5/15/35 (AMT) | 5/26 at 100.00 | Aa3 | 1,774,035 | ||
Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2016B: | ||||||
1,765 | 5.000%, 5/15/30 (AMT) | 5/26 at 100.00 | Aa3 | 2,115,776 | ||
1,000 | 5.000%, 5/15/34 (AMT) | 5/26 at 100.00 | Aa3 | 1,184,590 | ||
6,835 | 5.000%, 5/15/46 (AMT) | 5/26 at 100.00 | Aa3 | 7,939,399 | ||
Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2017A: | ||||||
13,680 | 5.000%, 5/15/42 (AMT) | 5/27 at 100.00 | Aa3 | 16,330,090 | ||
11,900 | 5.000%, 5/15/47 (AMT) | 5/27 at 100.00 | Aa3 | 14,095,788 | ||
4,850 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2018A, 5.000%, 5/15/44 (AMT) | 5/28 at 100.00 | Aa3 | 5,882,177 | ||
22,015 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2018C, 5.000%, 5/15/44 (AMT) | 11/27 at 100.00 | Aa3 | 26,485,586 | ||
1,250 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2018D, 5.000%, 5/15/43 (AMT) | 5/29 at 100.00 | Aa3 | 1,549,238 | ||
1,000 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2019D, 5.000%, 5/15/32 (AMT) | 11/28 at 100.00 | Aa3 | 1,266,250 | ||
5,485 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2019E, 5.000%, 5/15/44 | 11/28 at 100.00 | Aa3 | 6,857,841 | ||
2,000 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2019F, 5.000%, 5/15/36 (AMT) | 5/29 at 100.00 | Aa3 | 2,520,340 | ||
5,000 | Los Angeles Harbors Department, California, Revenue Bonds, Refunding Series 2014B, 5.000%, 8/01/44 | 8/24 at 100.00 | AA | 5,700,300 | ||
Los Angeles Harbors Department, California, Revenue Bonds, Series 2014C: | ||||||
1,160 | 5.000%, 8/01/34 | 8/24 at 100.00 | AA | 1,336,018 | ||
1,575 | 5.000%, 8/01/35 | 8/24 at 100.00 | AA | 1,814,116 | ||
1,865 | 5.000%, 8/01/36 | 8/24 at 100.00 | AA | 2,145,459 | ||
6,610 | 5.000%, 8/01/44 | 8/24 at 100.00 | AA | 7,535,797 |
13
NAC | Nuveen California Quality Municipal Income Fund (continued) |
Portfolio of Investments November 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Transportation (continued) | ||||||
Port of Oakland, California, Revenue Bonds, Refunding Series 2012P: | ||||||
$4,895 | 5.000%, 5/01/29 (AMT) | 5/22 at 100.00 | A+ | $5,214,301 | ||
7,340 | 5.000%, 5/01/31 (AMT) | 5/22 at 100.00 | A+ | 7,820,476 | ||
1,000 | Riverside County Transportation Commission, California, Toll Revenue Senior Lien Bonds, Series 2013A, 5.750%, 6/01/44 | 6/23 at 100.00 | A | 1,088,020 | ||
735 | Sacramento Regional Transit District, California, Farebox Revenue Bonds, Refunding Series 2012, 5.000%, 3/01/42 | 12/20 at 100.00 | A- | 735,463 | ||
5,000 | San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Refunding Subordinate Series 2019A, 5.000%, 7/01/39 | 7/29 at 100.00 | A+ | 6,349,850 | ||
9,550 | San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Senior Series 2013B, 5.000%, 7/01/43 (AMT) | 7/23 at 100.00 | AA- | 10,326,033 | ||
5,000 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Governmental Purpose Second Series 2017B, 5.000%, 5/01/47 | 5/27 at 100.00 | A1 | 6,014,450 | ||
22,930 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Governmental Purpose Series 2016C, 5.000%, 5/01/46 | 5/26 at 100.00 | A1 | 27,037,451 | ||
4,500 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2014B, 5.000%, 5/01/44 | 5/24 at 100.00 | A1 | 5,080,410 | ||
50,075 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2016B, 5.000%, 5/01/46 (AMT) | 5/26 at 100.00 | A1 | 58,056,454 | ||
San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2017A: | ||||||
2,500 | 5.250%, 5/01/42 (AMT) | 5/27 at 100.00 | A1 | 3,009,375 | ||
19,965 | 5.000%, 5/01/47 (AMT) | 5/27 at 100.00 | A | 23,615,600 | ||
San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2018D: | ||||||
37,935 | 5.000%, 5/01/43 (AMT) | 5/28 at 100.00 | A1 | 46,009,844 | ||
20,000 | 5.250%, 5/01/48 (AMT) | 5/28 at 100.00 | A1 | 24,459,200 | ||
9,350 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2018E, 5.000%, 5/01/48 | 5/28 at 100.00 | A1 | 11,425,700 | ||
2,000 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2019A, 5.000%, 5/01/44 (AMT) | 5/29 at 100.00 | A1 | 2,473,000 | ||
San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2019E: | ||||||
4,900 | 5.000%, 5/01/39 (AMT) | 5/29 at 100.00 | A1 | 6,135,094 | ||
3,335 | 5.000%, 5/01/40 (AMT) | 5/29 at 100.00 | A1 | 4,166,849 | ||
San Jose, California, Airport Revenue Bonds, Refunding Series 2017A: | ||||||
3,250 | 5.000%, 3/01/36 (AMT) | 3/27 at 100.00 | A2 | 3,877,705 | ||
3,000 | 5.000%, 3/01/37 (AMT) | 3/27 at 100.00 | A2 | 3,570,750 | ||
457,205 | Total Transportation | 538,459,257 | ||||
U.S. Guaranteed – 13.4% (8.7% of Total Investments) (7) | ||||||
3,000 | Antelope Valley Healthcare District, California, Revenue Bonds, Series 2011A, 7.250%, 3/01/36 (Pre-refunded 3/01/21) | 3/21 at 100.00 | N/R | 3,051,480 |
14
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
U.S. Guaranteed (7) (continued) | ||||||
$5,705 | Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2013S-4, 5.250%, 4/01/48 (Pre-refunded 4/01/23) | 4/23 at 100.00 | AA- | $6,377,391 | ||
California Educational Facilities Authority, Revenue Bonds, University of San Francisco, Series 2011: | ||||||
2,120 | 6.125%, 10/01/36 (Pre-refunded 10/01/21) | 10/21 at 100.00 | N/R | 2,222,163 | ||
2,205 | 6.125%, 10/01/36 (Pre-refunded 10/01/21) | 10/21 at 100.00 | A2 | 2,313,177 | ||
1,285 | California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Refunding Series 2015A, 5.000%, 8/15/43 (Pre-refunded 8/15/25) | 8/25 at 100.00 | A+ | 1,566,145 | ||
15,535 | California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Refunding Series 2016B, 5.000%, 11/15/46 (Pre-refunded 11/15/26) | 11/26 at 100.00 | N/R | 19,765,957 | ||
16,250 | California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Series 2016A, 5.000%, 11/15/46 (Pre-refunded 11/15/25) | 11/25 at 100.00 | A+ | 19,992,863 | ||
1,700 | California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, Refunding Series 2014A, 5.000%, 10/01/38 (Pre-refunded 10/01/24) | 10/24 at 100.00 | N/R | 2,009,077 | ||
5,360 | California Infrastructure and Economic Development Bank, First Lien Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2003A, 5.000%, 7/01/23 – AGM Insured (ETM) | No Opt. Call | AA+ | 6,024,854 | ||
18,250 | California Municipal Finance Authority, Revenue Bonds, Pomona College, Series 2017, 5.000%, 1/01/48 (Pre-refunded 1/01/28) | 1/28 at 100.00 | AAA | 23,911,698 | ||
5,500 | California Statewide Communities Development Authority, Revenue Bonds, Buck Institute for Research on Aging, Series 2014, 5.000%, 11/15/44 (Pre-refunded 11/15/24) – AGM Insured | 11/24 at 100.00 | AA | 6,495,940 | ||
6,450 | California Statewide Communities Development Authority, School Facility Revenue Bonds, Alliance College-Ready Public Schools, Series 2011A, 7.000%, 7/01/46 (Pre-refunded 7/01/21) | 7/21 at 100.00 | N/R | 6,700,841 | ||
2,915 | Contra Costa County, California, GNMA Mortgage-Backed Securities Program Home Mortgage Revenue Bonds, Series 1988, 8.250%, 6/01/21 (AMT) (ETM) | No Opt. Call | AA+ | 2,955,140 | ||
4,265 | Escondido Joint Powers Financing Authority, California, Revenue Bonds, Water System Financing, Series 2012, 5.000%, 9/01/41 (Pre-refunded 3/01/22) | 3/22 at 100.00 | AA- | 4,517,104 | ||
45,725 | Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Series 2013A, 6.000%, 1/15/53 (Pre-refunded 1/15/24) | 1/24 at 100.00 | A- | 53,889,656 | ||
4,000 | Hesperia Unified School District, San Bernardino County, California, Certificates of Participation, Series 2013A, 5.000%, 2/01/38 (Pre-refunded 2/01/23) – BAM Insured | 2/23 at 100.00 | AA | 4,407,000 | ||
Marysville, California, Revenue Bonds, Fremont-Rideout Health Group, Series 2011: | ||||||
275 | 5.125%, 1/01/32 (Pre-refunded 1/01/21) | 1/21 at 100.00 | N/R | 276,097 | ||
525 | 5.200%, 1/01/34 (Pre-refunded 1/01/21) | 1/21 at 100.00 | N/R | 527,126 | ||
125 | 5.250%, 1/01/35 (Pre-refunded 1/01/21) | 1/21 at 100.00 | N/R | 125,511 | ||
250 | 5.250%, 1/01/37 (Pre-refunded 1/01/21) | 1/21 at 100.00 | N/R | 251,023 | ||
15,615 | 5.250%, 1/01/42 (Pre-refunded 1/01/21) | 1/21 at 100.00 | N/R | 15,678,865 | ||
National City Community Development Commission, California, Tax Allocation Bonds, National City Redevelopment Project, Series 2011: | ||||||
4,450 | 6.500%, 8/01/24 (Pre-refunded 8/01/21) | 8/21 at 100.00 | A | 4,636,055 | ||
3,000 | 7.000%, 8/01/32 (Pre-refunded 8/01/21) | 8/21 at 100.00 | A | 3,134,790 | ||
7,500 | Newport Beach, California, Revenue Bonds, Hoag Memorial Hospital Presybterian, Series 2011A, 6.000%, 12/01/40 (Pre-refunded 12/01/21) | 12/21 at 100.00 | N/R | 7,931,550 |
15
NAC | Nuveen California Quality Municipal Income Fund (continued) |
Portfolio of Investments November 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
U.S. Guaranteed (7) (continued) | ||||||
$1,655 | Novato Redevelopment Agency, California, Tax Allocation Bonds, Hamilton Field Redevelopment Project, Series 2011, 6.750%, 9/01/40 (Pre-refunded 9/01/21) | 9/21 at 100.00 | N/R | $1,734,870 | ||
5,840 | Orange County Water District, California, Revenue Certificates of Participation, Series 1999A, 5.375%, 8/15/29 (ETM) | No Opt. Call | N/R | 7,694,375 | ||
905 | Orange County Water District, California, Revenue Certificates of Participation, Series 2003B, 5.000%, 8/15/34 (Pre-refunded 8/15/32) – NPFG Insured | 8/32 at 100.00 | N/R | 1,306,313 | ||
2,370 | Oxnard School District, Ventura County, California, General Obligation Bonds, Election 2012 Series 2013B, 5.000%, 8/01/43 (Pre-refunded 8/01/23) – AGM Insured | 8/23 at 100.00 | AA | 2,672,768 | ||
2,575 | Oxnard School District, Ventura County, California, General Obligation Bonds, Refunding Series 2001A, 5.750%, 8/01/30 (Pre-refunded 2/01/22) – NPFG Insured | 2/22 at 103.00 | A+ | 2,816,509 | ||
9,385 | Pajaro Valley Unified School District, Santa Cruz County, California, General Obligation Bonds, Refunding Election 2012 Series 2013A, 5.000%, 8/01/43 (Pre-refunded 8/01/23) | 8/23 at 100.00 | Aa3 | 10,583,934 | ||
1,290 | Pomona, California, GNMA/FHLMC Collateralized Single Family Mortgage Revenue Refunding Bonds, Series 1990B, 7.500%, 8/01/23 (ETM) | No Opt. Call | AA+ | 1,415,207 | ||
2,000 | Puerto Rico Public Finance Corporation, Commonwealth Appropriation Bonds, Series 2002E, 6.000%, 8/01/26 (ETM) | No Opt. Call | C | 2,592,760 | ||
5,335 | Rancho Santa Fe CSD Financing Authority, California, Revenue Bonds, Superior Lien Series 2011A, 5.750%, 9/01/30 (Pre-refunded 9/01/21) | 9/21 at 100.00 | A- | 5,554,695 | ||
1,460 | Rohnert Park Community Development Commission, California, Tax Allocation Bonds, Redevelopment Project Series 2007R, 5.000%, 8/01/37 – FGIC Insured (ETM) | 12/20 at 100.00 | Baa2 | 1,506,691 | ||
5,825 | Sacramento, California, Wastewater Revenue Bonds, Series 2013, 5.000%, 9/01/42 (Pre-refunded 9/01/23) | 9/23 at 100.00 | AA | 6,592,327 | ||
6,500 | San Diego Community College District, California, General Obligation Bonds, Refunding Series 2011, 5.000%, 8/01/41 (Pre-refunded 8/01/21) | 8/21 at 100.00 | AAA | 6,710,405 | ||
2,135 | San Diego County Regional Transportation Commission, California, Sales Tax Revenue Bonds, Refunding Series 2012A, 5.000%, 4/01/42 (Pre-refunded 4/01/22) | 4/22 at 100.00 | AAA | 2,272,579 | ||
5,000 | San Diego County Regional Transportation Commission, California, Sales Tax Revenue Bonds, Series 2014A, 5.000%, 4/01/44 (Pre-refunded 4/01/24) | 4/24 at 100.00 | AAA | 5,758,350 | ||
5,580 | San Francisco City and County Public Utilities Commission, California, Water Revenue Bonds, Series 2011A, 5.000%, 11/01/41 (Pre-refunded 11/01/21) (UB) (8) | 11/21 at 100.00 | Aa2 | 5,827,082 | ||
750 | San Francisco City and County Public Utilities Commission, California, Water Revenue Bonds, Tender Option Bond Trust 2015-XF0226, 17.953%, 11/01/28 (Pre-refunded 11/01/21), 144A (IF) (8) | 11/21 at 100.00 | Aa2 | 882,825 | ||
780 | San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds, Mission Bay North Redevelopment Project, Series 2011C, 6.750%, 8/01/41 (Pre-refunded 2/01/21) | 2/21 at 100.00 | A- | 788,432 | ||
San Francisco Redevelopment Financing Authority, California, Tax Allocation Revenue Bonds, Mission Bay South Redevelopment Project, Series 2011D: | ||||||
785 | 7.000%, 8/01/33 (Pre-refunded 2/01/21) | 2/21 at 100.00 | BBB+ | 793,604 | ||
980 | 7.000%, 8/01/41 (Pre-refunded 2/01/21) | 2/21 at 100.00 | BBB+ | 990,741 | ||
San Mateo Union High School District, San Mateo County, California, General Obligation Bonds, Election 2010 Series 2011A: | ||||||
220 | 5.000%, 9/01/42 (Pre-refunded 9/01/21) | 9/21 at 100.00 | N/R | 227,830 | ||
1,895 | 5.000%, 9/01/42 (Pre-refunded 9/01/21) | 9/21 at 100.00 | Aaa | 1,963,902 |
16
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
U.S. Guaranteed (7) (continued) | ||||||
$7,860 | Santa Ana Community Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series 2011A, 6.750%, 9/01/28 (Pre-refunded 3/01/21) | 3/21 at 100.00 | N/R | $7,988,747 | ||
6,245 | Southwestern Community College District, San Diego County, California, General Obligation Bonds, Election of 2008, Series 2011C, 5.250%, 8/01/36 (Pre-refunded 8/01/21) | 8/21 at 100.00 | Aa2 | 6,457,517 | ||
2,475 | Temecula Redevelopment Agency, California, Redevelopment Project 1 Tax Allocation Housing Bonds Series 2011A, 7.000%, 8/01/39 (Pre-refunded 8/01/21) | 8/21 at 100.00 | N/R | 2,584,890 | ||
1,200 | Turlock Public Financing Authority, California, Tax Allocation Revenue Bonds, Series 2011, 7.500%, 9/01/39 (Pre-refunded 3/01/21) | 3/21 at 100.00 | N/R | 1,221,636 | ||
1,000 | Union City Community Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Project, Subordinate Lien Series 2011, 6.875%, 12/01/33 (Pre-refunded 12/01/21) | 12/21 at 100.00 | A+ | 1,065,940 | ||
8,760 | University of California Regents, Medical Center Pooled Revenue Bonds, Series 2013J, 5.250%, 5/15/31 (Pre-refunded 5/15/23) | 5/23 at 100.00 | AA- | 9,823,464 | ||
10,700 | Upland, California, Certificates of Participation, San Antonio Community Hospital, Series 2011, 6.500%, 1/01/41 (Pre-refunded 1/01/21) | 1/21 at 100.00 | BBB | 10,749,755 | ||
Yorba Linda Redevelopment Agency, Orange County, California, Tax Allocation Revenue Bonds, Yorba Linda Redevelopment Project, Subordinate Lien Series 2011A: | ||||||
865 | 6.000%, 9/01/26 (Pre-refunded 9/01/21) | 9/21 at 100.00 | N/R | 902,169 | ||
1,420 | 6.500%, 9/01/32 (Pre-refunded 9/01/21) | 9/21 at 100.00 | N/R | 1,485,874 | ||
4,000 | Yuba Community College District, California, General Obligation Bonds, Election 2006 Series 2011C, 5.250%, 8/01/47 (Pre-refunded 8/01/21) | 8/21 at 100.00 | Aa2 | 4,136,120 | ||
279,795 | Total U.S. Guaranteed | 315,863,814 | ||||
Utilities – 28.3% (18.5% of Total Investments) | ||||||
Bay Area Water Supply and Conservation Agency, California, Revenue Bonds, Capital Cost Recovery Prepayment Program, Series 2013A: | ||||||
2,000 | 5.000%, 10/01/27 | 4/23 at 100.00 | AA- | 2,222,200 | ||
6,010 | 5.000%, 10/01/29 | 4/23 at 100.00 | AA- | 6,661,364 | ||
7,000 | 5.000%, 10/01/34 | 4/23 at 100.00 | AA- | 7,706,860 | ||
3,050 | California Department of Water Resources, Central Valley Project Water System Revenue Bonds, Series 2020BB, 5.000%, 12/01/35 | 12/30 at 100.00 | AAA | 4,231,296 | ||
5,000 | California Infrastructure and Economic Development Bank Clean Water State Revolving Fund Revenue Bonds, Green Series 2018, 5.000%, 10/01/43 | 4/28 at 100.00 | AAA | 6,354,000 | ||
California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, Poseidon Resources Channelside LP Desalination Project, Series 2012: | ||||||
3,925 | 5.000%, 7/01/37 (AMT), 144A | 7/22 at 100.00 | BBB | 4,138,716 | ||
65,500 | 5.000%, 11/21/45 (AMT), 144A | 7/22 at 100.00 | BBB | 68,708,845 | ||
110 | California Statewide Community Development Authority, Water and Wastewater Revenue Bonds, Pooled Financing Program, Series 2003A, 5.250%, 10/01/23 – AGM Insured | 12/20 at 100.00 | AA | 110,442 | ||
315 | California Statewide Community Development Authority, Water and Wastewater Revenue Bonds, Pooled Financing Program, Series 2004A, 5.250%, 10/01/24 – AGM Insured | 12/20 at 100.00 | AA | 316,263 |
17
NAC | Nuveen California Quality Municipal Income Fund (continued) |
Portfolio of Investments November 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Utilities (continued) | ||||||
East Bay Municipal Utility District, Alameda and Contra Costa Counties, California, Water System Revenue Bonds, Green Series 2017A: | ||||||
$5,000 | 5.000%, 6/01/42 | 6/27 at 100.00 | AAA | $6,231,050 | ||
2,200 | 5.000%, 6/01/45 | 6/27 at 100.00 | AAA | 2,725,998 | ||
8,715 | East Bay Municipal Utility District, Alameda and Contra Costa Counties, California, Water System Revenue Bonds, Green Series 2019A, 5.000%, 6/01/44 | 6/29 at 100.00 | AAA | 11,355,732 | ||
10,000 | East Bay Municipal Utility District, Alameda and Contra Costa Counties, California, Water System Revenue Bonds, Series 2014C, 5.000%, 6/01/44 | 6/24 at 100.00 | AAA | 11,457,800 | ||
Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series 2007A: | ||||||
14,140 | 5.000%, 11/15/35 | No Opt. Call | A+ | 19,774,224 | ||
7,610 | 5.500%, 11/15/37 | No Opt. Call | A+ | 11,416,142 | ||
8,980 | Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Refunding Series 2019D, 5.000%, 7/01/44 | 7/29 at 100.00 | Aa2 | 11,681,004 | ||
33,735 | Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2012B, 5.000%, 7/01/43 | 7/22 at 100.00 | Aa2 | 36,146,378 | ||
4,865 | Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2013B, 5.000%, 7/01/28 | 7/23 at 100.00 | Aa2 | 5,447,730 | ||
4,000 | Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2014B, 5.000%, 7/01/43 | 1/24 at 100.00 | Aa2 | 4,500,400 | ||
43,605 | Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2017A, 5.000%, 7/01/42 | 1/27 at 100.00 | Aa2 | 53,320,194 | ||
4,500 | Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2017B, 5.000%, 7/01/38 | 1/27 at 100.00 | Aa2 | 5,545,035 | ||
53,615 | Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2017C, 5.000%, 7/01/47 | 7/27 at 100.00 | Aa2 | 65,990,414 | ||
10,650 | Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2018A, 5.000%, 7/01/38 | 1/28 at 100.00 | Aa2 | 13,506,863 | ||
Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2018D: | ||||||
8,960 | 5.000%, 7/01/38 | 7/28 at 100.00 | Aa2 | 11,526,592 | ||
8,215 | 5.000%, 7/01/39 | 7/28 at 100.00 | Aa2 | 10,547,649 | ||
4,000 | Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2019C, 5.000%, 7/01/49 | 7/29 at 100.00 | AA- | 5,164,600 | ||
3,000 | Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Tender Option Bond Trust 2015-XF2047, 17.582%, 7/01/43, 144A (IF) (8) | 7/22 at 100.00 | Aa2 | 3,857,790 | ||
2,000 | Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2011A, 5.000%, 7/01/41 | 1/21 at 100.00 | AA+ | 2,007,420 | ||
2,355 | Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2012B, 5.000%, 7/01/37 | 7/22 at 100.00 | AA+ | 2,529,553 | ||
24,070 | Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2014A, 5.000%, 7/01/44 | 7/24 at 100.00 | AA+ | 27,587,108 | ||
6,770 | Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2016A, 5.000%, 7/01/46 | 1/26 at 100.00 | AA+ | 8,060,227 |
18
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Utilities (continued) | ||||||
$10,000 | Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2017A, 5.000%, 7/01/41 | 1/27 at 100.00 | AA+ | $12,287,500 | ||
10,000 | Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2018A, 5.000%, 7/01/48 | 1/28 at 100.00 | AA+ | 12,493,600 | ||
Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2018B: | ||||||
2,000 | 5.000%, 7/01/38 | 7/28 at 100.00 | AA+ | 2,581,320 | ||
6,650 | 5.000%, 7/01/48 | 7/28 at 100.00 | AA+ | 8,419,698 | ||
Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2020A: | ||||||
17,340 | 5.000%, 7/01/41 | 7/30 at 100.00 | Aa2 | 23,174,910 | ||
4,000 | 5.000%, 7/01/47 | 7/30 at 100.00 | Aa2 | 5,271,960 | ||
1,490 | Los Angeles, California, Wastewater System Revenue Bonds, Green Series 2015C, 5.000%, 6/01/45 | 6/25 at 100.00 | AA+ | 1,746,444 | ||
4,420 | Los Angeles, California, Wastewater System Revenue Bonds, Green Subordinate Lien Series 2017A, 5.250%, 6/01/47 | 6/27 at 100.00 | AA | 5,503,121 | ||
5,000 | Los Angeles, California, Wastewater System Revenue Bonds, Green Subordinate Series 2018A, 5.000%, 6/01/48 | 6/28 at 100.00 | AA | 6,284,750 | ||
Los Angeles, California, Wastewater System Revenue Bonds, Refunding Subordinate Lien Series 2013A: | ||||||
1,245 | 5.000%, 6/01/34 | 6/23 at 100.00 | AA | 1,378,862 | ||
6,840 | 5.000%, 6/01/35 | 6/23 at 100.00 | AA | 7,570,033 | ||
Mesa Water District, California, Certificates of Participation, Series 2020: | ||||||
2,000 | 4.000%, 3/15/45 | 3/30 at 100.00 | AAA | 2,410,440 | ||
6,380 | 5.000%, 3/15/50 | 3/30 at 100.00 | AAA | 8,288,768 | ||
13,500 | Metropolitan Water District of Southern California, Water Revenue Bonds, Refunding Series 2020C, 5.000%, 7/01/40 | 7/30 at 100.00 | AAA | 18,203,940 | ||
14,700 | Metropolitan Water District of Southern California, Water Revenue Bonds, Series 2020A, 5.000%, 10/01/49 | 10/29 at 100.00 | AAA | 19,218,927 | ||
7,525 | Moulton Niguel Water District, California, Certificates of Participation, Series 2019, 3.000%, 9/01/44 | 3/29 at 100.00 | AAA | 8,218,429 | ||
3,500 | Placerville Public Financing Authority, California, Wastewater System Refinancing and Improvement Project Revenue Bonds, Series 2006, 5.000%, 9/01/34 – SYNCORA GTY Insured | 12/20 at 100.00 | N/R | 3,536,855 | ||
3,195 | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 6.000%, 7/01/44 | 12/20 at 100.00 | CCC | 3,242,925 | ||
Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2012A: | ||||||
1,730 | 5.500%, 7/01/28 | 7/22 at 100.00 | CCC | 1,814,338 | ||
6,390 | 5.750%, 7/01/37 | 7/22 at 100.00 | CCC | 6,709,500 | ||
5,235 | 6.000%, 7/01/47 | 7/22 at 100.00 | CCC | 5,509,838 | ||
3,000 | Sacramento County Sanitation Districts Financing Authority, California, Revenue Bonds, Sacramento Regional County Sanitation District, Series 2014A, 5.000%, 12/01/33 | 6/24 at 100.00 | AA | 3,468,870 |
19
NAC | Nuveen California Quality Municipal Income Fund (continued) |
Portfolio of Investments November 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Utilities (continued) | ||||||
$26,570 | Sacramento County Sanitation Districts Financing Authority, California, Revenue Bonds, Sacramento Regional County Sanitation District, Series 2020A, 5.000%, 12/01/50 | 12/30 at 100.00 | AA | $35,017,931 | ||
2,800 | Sacremento Municipal Utility District, California, Electric Revenue Bonds, Series 2020H, 4.000%, 8/15/40 | 8/30 at 100.00 | AA | 3,434,620 | ||
2,500 | Sacremento Municipal Utility District, California, Electric Revenue Bonds, Tender Option Bond Trust 2016-XG0060, 18.019%, 8/15/41, 144A (IF) (8) | 8/23 at 100.00 | AA | 3,624,250 | ||
4,000 | San Diego Public Facilities Financing Authority, California, Water Utility Revenue Bonds, Refunding Subordinate Lien Series 2016B, 5.000%, 8/01/37 | 8/26 at 100.00 | Aa3 | 4,904,400 | ||
2,570 | San Francisco City and County Public Utilities Commission, California, Wastewater Revenue Bonds, Series 2018B, 5.000%, 10/01/43 | 4/28 at 100.00 | AA | 3,224,862 | ||
750 | San Francisco City and County Public Utilities Commission, California, Water Revenue Bonds, Tender Option Bond Trust 2015-XF0226, 17.953%, 5/01/21, 144A (IF) (8) | No Opt. Call | Aa2 | 955,425 | ||
2,145 | Santa Clara Valley Water District, California, Water System Revenue Bonds, Refunding Series 2020A, 5.000%, 6/01/45 | 6/30 at 100.00 | Aa1 | 2,809,907 | ||
Silicon Valley Clean Water, Mateo County, California, Wastewater Revenue Bonds, Series 2015: | ||||||
3,000 | 5.000%, 8/01/40 | 8/25 at 100.00 | AA | 3,570,630 | ||
1,600 | 5.000%, 8/01/45 | 8/25 at 100.00 | AA | 1,893,056 | ||
1,095 | Silicon Valley Clean Water, Mateo County, California, Wastewater Revenue Bonds, Series 2018, 4.000%, 8/01/46 | 2/28 at 100.00 | AA | 1,255,275 | ||
Southern California Public Power Authority, California, Revenue Bonds, Apex Power Project Series 2014A: | ||||||
1,565 | 5.000%, 7/01/35 | 7/24 at 100.00 | AA- | 1,797,872 | ||
1,500 | 5.000%, 7/01/38 | 7/24 at 100.00 | AA- | 1,716,315 | ||
4,000 | Southern California Public Power Authority, Natural Gas Project 1 Revenue Bonds, Series 2007A, 5.000%, 11/01/33 | No Opt. Call | A | 5,479,600 | ||
554,130 | Total Utilities | 667,849,060 | ||||
Water and Sewer – 1.1% (0.7% of Total Investments) | ||||||
2,500 | Central Basin Municipal Water District, California, Certificates of Participation, Tender Option Bond Trust 2016-XG0038, 17.520%, 8/01/39 – AGC Insured, 144A (IF) (8) | 2/21 at 100.00 | AA | 2,519,425 | ||
23,430 | Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2011A, 5.250%, 7/01/39 (UB) (8) | 1/21 at 100.00 | AA+ | 23,522,080 | ||
25,930 | Total Water and Sewer | 26,041,505 | ||||
$3,229,979 | Total Long-Term Investments (cost $3,197,959,167) | 3,614,868,496 |
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Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
SHORT-TERM INVESTMENTS – 0.1% (0.1% of Total Investments) | ||||||
MUNICIPAL BONDS – 0.1% (0.1% of Total Investments) | ||||||
Utilities – 0.1% (0.1% of Total Investments) | ||||||
$2,525 | Sacramento County Sanitation Districts Financing Authority, California, Revenue Bonds, Variable Rate Demand Obligation, Crossover Refunding Series 2001, 5.500%, 12/01/20 – AMBAC Insured | No Opt. Call | AA | $2,525,000 | ||
$2,525 | Total Short-Term Investments (cost $2,525,000) | 2,525,000 | ||||
Total Investments (cost $3,200,484,167) – 153.3% | 3,617,393,496 | |||||
Floating Rate Obligations – (0.9)% | (21,750,000) | |||||
MuniFund Preferred Shares, net of deferred offering costs – (13.6)% (9) | (319,793,490) | |||||
Variable Rate Demand Preferred Shares, net of deferred offering costs – (40.4)% (10) | (954,190,976) | |||||
Other Assets Less Liabilities – 1.6% | 38,063,947 | |||||
Net Asset Applicable to Common Shares – 100% | $2,359,722,977 |
Part F of Form N-PORT was prepared
in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”)
related to interim filings. Part F of Form N-PORT does not include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in financial
statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For a full set of the Fund’s notes to financial statements, please refer to the
Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund's investments in securities
are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring
a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to maximize the use of
observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants
would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about the
assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered
hierarchy of valuation input levels.
Level 1
– Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
The following table summarizes the
market value of the Fund's investments as of the end of the reporting period, based on the inputs used to value them:
Level 1 | Level 2 | Level 3 | Total | |
Long-Term Investments: | ||||
Municipal Bonds | $ — | $3,614,868,496 | $ — | $3,614,868,496 |
Short-Term Investments: | ||||
Municipal Bonds | — | 2,525,000 | — | 2,525,000 |
Total | $ — | $3,617,393,496 | $ — | $3,617,393,496 |
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NAC | Nuveen California Quality Municipal Income Fund (continued) |
Portfolio of Investments November 30, 2020 | |
(Unaudited) |
(1) | All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted. | |
(2) | Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns. | |
(3) | For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. | |
(4) | Effective February 12, 2019, the par value of the original bonds was replaced with taxable and tax exempt Puerto Rico Sales Tax Financing Corporation (commonly known as COFINA) bond units that are collateralized by a bundle of zero and coupon paying bonds. The quantity shown represents units in a trust, which were assigned according to the original bond’s accreted value. These securities do not have a stated coupon interest rate and income will be recognized through accretion of the discount associated with the trust units. The factor at which these units accrete can also decrease, primarily for principal payments generated from coupon payments received or dispositions of the underlying bond collateral. The quantity of units will not change as a result of these principal payments. | |
(5) | Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of bankruptcy. | |
(6) | Step-up coupon bond, a bond with a coupon that increases ("steps up"), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the end of the reporting period. | |
(7) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. | |
(8) | Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions. | |
(9) | MuniFund Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 8.8%. | |
(10) | Variable Rate Demand Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 26.4%. | |
144A | Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. | |
AMT | Alternative Minimum Tax | |
ETM | Escrowed to maturity | |
IF | Inverse floating rate security issued by a tender option bond (“TOB”) trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust. | |
UB | Underlying bond of an inverse floating rate trust reflected as a financing transaction. |
22